(English Medium) ICSE Class 10 - CISCE Important Questions for Commercial Applications

______ account is prepared to ascertain surplus or deficit at the end of an accounting year.

How will Income and Expenditure account benefit a non-trading sports organisation?

How is Receipts & Payments Account different from Income & Expenditure Account?

Why is central bank called as a ‘lender of last resort’ for a commercial bank?

State two advantages of a bank account.

______ is a revolving credit arrangement.

State one point of difference between Cash Credit and Overdraft.

Write about any three general utility functions of Commercial Bank.

Justify either for or against by giving a reason for the following statement. ‘Central Bank is a Banker to the Government.’

Write any three disadvantages of payment through cheques.

Write a short note on Automated Teller Machine.

What is a Central Bank?

Write any two differences between:

Central Bank and Commercial Bank

Central bank is the sole ______ of the country's foreign currency reserve.

______ is not a legal tender and the creditor may refuse to accept it.

Distinguish between.

Cheque book and Passbook

Justify the following sentence for or against and give a reason:

A bank cannot refuse payment of a cheque.

Central bank is the lender of the last resort. Explain.

With reference to the secondary functions of a Commercial Bank, explain the general utility function.

Distinguish between the Central Bank and the Commercial Bank.